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Elliott waves analysis

This forecast is based on the Elliott Wave Principle which states that investor psychology is the motor behind the stock markets. In this analysis however, the analyst not only observes the previous price patterns, but also takes into account the correlation between different pairs before releasing forecasts.

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Elliott waves analysis

20 - 24 March	weekly forecast 20 - 24 March Weekly Review BUY SPX500 Now SP500 is in a corrective phase, the market is currently very bullish. As we can see on the char above, the market formed a descending wedge that is expanding in nature, from the beginning of major wave (I),4810.6, to the end of major wave (V),3560.6, this is a bullish pattern More
2023	EURUSD	GBPUSD	USDJPY
24 March	We're sellers for now EURUSD is dropping nicely just as we had predicted in our previous analysis. The price is currently in a minor zone. The market is in a corrective phase which is ABC's corrective pattern. Since the price has already formed the minor corrective wave a and minor corrective wave be the price is curren More	We're buyers GBPUSD is still very bullish though in the lower timeframe, we can see some bearish pullbacks. The market is in a corrective phase ( ABC corrective pattern). I expect the price to be bullish at least up to 1.2410. The price reaching this zone will mark the end of the corrective phase. You can still More	We're sellers USDJPY is still very bearish. The market is currently in a corrective phase (ABC corrective pattern). Currently, the market is at a major zone /support zone at 130.53. From the chart above, we can clearly see that the market is moving in form of a descending channel which is a bullish reversal patt More
23 March	We're looking sell positions:	We're buyers	We're sellers
22 March	We're short for now	We're buyers	We're short
21 March	We're waiting for a sell around 1.0710	We're looking for low risk buy positions	We're sellers for now
20 March	We're sellers	We're buyers towards 1.234	We're sellers towards 129.40

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Elliott waves analysis

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